Meme shares lose speed as prominent investor calls them a bubble

0
  • NYSE: AMC needs to regain retail support or the stock could drop.
  • Renowned investor Michael Burry claims memes shares are officially a bubble.
  • More and more analysts are refusing to cover the actions of memes on Wall Street.

NYSE: AMC is counting on a theatrical comeback now that the worst of the COVID-19 pandemic in the United States is behind us. The theater’s revenue for the July 4 weekend topped $ 69 million in the US alone, and while this is an impressive year-over-year improvement from 2020, it this is a fraction of the weekend’s historic income numbers.. In the past, the Independence Day long weekend has hosted some of the biggest movie launches of the summer, with typical weekend revenues of between $ 150 million and $ 200 million from the sale of tickets. It shows that while the world is opening up again, cinemas may not be high on people’s to-do lists after the pandemic.


Stay on top of hot stock news!


The investor who was made famous in the movie The Big Short has indicated that he now believes the memes’ shares are officially in a bubble. Michael Burry has openly said that the current meme stock environment reminds him of the real estate crash that made him famous, as well as the dotcom crash in 2000.. Burry also added that companies that become stocks memes should take advantage of the benefits of a sudden surge in stock prices.

AMC stock forecast

AMC’s official stock analyst forecast may be more difficult to come by in the future, as several analysts have already refused to cover stocks with memes in the future.. More recently, Loop Capital’s Anthony Chukumba said he will no longer cover GameStop (NYSE: GME), as he said, “look, the stock went from $ 483 to $ 200 I guess. I still don’t think so. not that it’s worth anything, even at a distance near it. ” Chukumba’s refusal to cover GameStop follows the end of coverage of the memes stock by Baird and Bank of America.

Share.

Comments are closed.